Tupperwarea company that has long been indispensable in kitchens American and Mexican familiesBecause of his practical storage method, he is in a very difficult financial position, to the point where he may not have enough cash to survive in the short term, as their shares continue to decline and there is a possibility of them declaring bankruptcy. bankruptcy.
for several years sales They have been He falls The Tupperware skyrocketed competitors Which offers similar products at much lower, even more ecological prices. Even if it’s in a pandemic COVID-19 Their sales increased, which was not enough Save the company.
What does it mean that it is low in the US?
Tupperware stock has been on the decline for years, as it has been Main business model for the company that was Direct selling to consumers through consumer sellers index fell exponentially.
But this trend was reversed in the early days of the COVID-19 pandemic, as the sudden popularity of eating at home was born new request From its main product: Reusable and resealable food storage containers. However, Tupperware said its 2022 net sales were $1.3 billion, down 18 percent from a year earlier, citing lower sales and operating margins as the main reasons for the decline.
the Stocks won Nearly 3,000%, from trading at $1.40 in March 2020 to nearly $40 a share in January of the following year. That year, it recorded $489 million in sales in the last quarter of 2020 alone. However, she is also facing a lawsuit from investors because she failed to “disclose the seriousness Problems with internal controlsincluded Misrepresentations In his report during the pandemic.
Tupperware could file for bankruptcy
company Founded in 1946 He said there are “huge doubts about capacity company l Complete As a going concern,” this is in a regulatory filing filed last Friday.
Concerns about Tupperware arose yet New York Stock Exchange He warned that a company’s stock could be written off because it failed to file Annual Report by 2022. While Tupperware said it plans to file a report within the next 30 days, it added that “there can be no guarantee” that it “will be submitted at that time.” Its shares have fallen as much as 68% in the Middle East past weeks And up to 98% last year, with the paper price coming in at just $1.30.
Tupperware has embarked on a journey to changes our operations Today marks a critical step in addressing our capital and liquidity position.” Miguel FernandezPresident and CEO of the Corporation Tupperware brands. “The company is doing all it can to mitigate the effects of recent events and we are taking immediate steps to seek additional funding to address our financial situation.”
In danger of being able to disappear forever
Another important problem is pregnancy Company debtwhich swelled to $705 million, more than 10 times its value current market From the company of just over 60 million people, according to organizational findings.
Currently, the company weather forecast Tupperware said in press release. As a result, the company has concluded that there are significant uncertainties around it The ability to continue as a going concern.”
The output that the international company has, if Restructuring Essential based on the famous Chapter 11 bankruptcies in the United StatesCan Save the company and keep running. Formerly popular businesses such as theme parks six flagsthe cars general motors And the airline Delta AirlinesTo name a few, he benefited from this mod and was able to maintain it.
about them International branches in 70 countriesincluded Mexico And other Latin American countries, their future is still unknown. It will mainly depend on the reorientation of the market that the company has during a possible restructuring, however, in the event that it cannot emerge before the possible bankruptcy, the company can go bankrupt.
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